Australian Dollar Holds Near 70 U.S. Cents as Markets Bet on Fifth RBA Hike to 4.85%
September inflation of 4.3% pushed hike odds to 88%, but a softer jobs report and a hike already largely priced in have kept the Aussie from breaking higher.
Capital Times: markets, business and economic news from Asia
South Korea's October Exports Jump 93.7% to $115.3 Billion as Chip Sales Rise 259%
Semiconductors made up nearly half of all shipments, and the trade ministry says annual exports will pass $1 trillion in November.
India's Affle Agrees to Buy Perion for $420 Million in All-Cash Ad-Tech Deal
The Indian mobile-advertising group is paying a 34.5% premium for the Nasdaq-listed Israeli company, which holds about $228 million in cash and has seen revenue shrink for two years.
Bitcoin Ends October Down 7.3% Near $77,500 as Binance Hack Sinks 'Uptober'
Ether lost 16% as a record $6.3 billion theft, an AI stock rout and ETF outflows handed crypto a second straight losing October.
Taiwan's Economy Grows 14.36%, Fastest Third Quarter in 48 Years, as AI Exports Surge
Capital formation jumped 26.36% as chip-equipment imports climbed, marking Taiwan's fourth straight quarter of double-digit growth.
Australia's Core Inflation Rises to 3.7%, Beating Forecasts and Firming RBA Hike Bets
Headline prices rose 4.3% in the year to September as fuel surged, and bond markets now put the odds of a Nov. 3 rate increase above 80%.
Great Eastern Third-Quarter Profit Falls 72% on Market Losses, Indonesia Unit Sale
OCBC's insurance arm still grew the value of new business 14% in the quarter, and OCBC shares led a slide in Singapore bank stocks on Monday morning.
Markets
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- Growth & InflationAsia's Chip Exporters Lose Factory Momentum as Korea PMI Drops to 51.3, Indonesia Hits 54
- Growth & InflationIndonesia's Inflation Eases to 3.23% in October as Chili Prices Jump and Core Stays Soft
- Hong KongHKMA Launches Project SAGE for AI Agents in Banking, Opens 24/7 Tokenized Settlement
- IPOsEdelweiss Unit EAAA India Alternatives Ends Debut 3.8% Above IPO Price After Muted Open
- SemiconductorsDRAM Contract Prices Seen Rising 10% to 15% in Q4 as Spot Market Stalls, TrendForce Says
- TaxJapan's Bill to Cut Food Consumption Tax to 1% Nears Lower House Vote, With Worker Benefits
China's Economy Grows 4.5% in Third Quarter, Beating Forecasts as Factories Hum
Growth picked up from the second quarter on manufacturing and exports, while construction shrank and officials flagged weak domestic demand.
Hong Kong IPOs Raise Record HK$388 Billion in Nine Months, Putting Best Year in Reach
KPMG says full-year proceeds could near HK$500 billion as A+H listings and tech issuers fill a pipeline of more than 600 applicants.
Asian Markets
Samsung Drags Kospi Down 3% as Alphabet's Cash Burn Cools Asia's AI Stock Rally
Japanese chip stocks rallied ahead of the BOJ and Hong Kong held flat in morning trade, while Samsung's profit miss and a battery stake sale sank Seoul.
Treasury Yields Slip Back Below 5% as Fed Decision Looms After September Rout
The 10-year yield has fallen for three weeks after touching its highest since 2007, but oil and supply worries still hang over the market.
Asia's Currencies Close October Mixed as Rupee Gains About 1% and Yuan Hits 4-Year High
With the Fed and the Bank of Japan both on hold, central bank defenses, export dollars and oil decided which currencies won the month.
Brent Eases From Near Six-Month High as Saudi-Iran Talks Temper Houthi Supply Scare
Diplomacy in Tehran trimmed oil prices, but attacks on Saudi energy sites and on Hormuz shipping keep a heavy risk premium in place.
Japan Has Spent 27 Trillion Yen Defending Its Currency. Policy Must Do the Rest
Record dollar sales have slowed the yen's slide but not reversed it. A December rate increase and restraint on tax cuts would do more.
The Editorial Board
Artificial Intelligence
Moonshot AI Weighs Up to $5 Billion Hong Kong IPO After $50 Billion Valuation
The Kimi developer has closed its last private round and lined up banks for a listing as soon as early 2027, Bloomberg reported.
- TSMC Profit Jumps 69% to a Record as 2nm Ramp Lifts Fourth-Quarter OutlookSemiconductors · 3 min read
- HSBC Rolls Out Hong Kong Dollar Stablecoin RedCoin to 3.3 Million PayMe UsersFintech & Crypto · 4 min read
- Asia Startup Funding Holds Near Highs at $38.5 Billion as AI Draws 55%Startups & VC · 3 min read
China Trade
China's Exports Jump 36% in September as AI Demand Pushes Surplus to 2026 High
Shipments beat forecasts by more than 10 percentage points, and the annual surplus is on pace to top $1 trillion again.
- Fed Holds Rates at 3.75% to 4% in 10-2 Vote as Warsh Plans Fewer Rate DecisionsCentral Banks · 4 min read
- Trump Holds Off on Robotics, Machinery Tariffs, Orders 180 Days of Trade TalksTrade · 3 min read
- China's Factory Activity Shrinks as Official PMI Falls to 49.3, Missing ForecastsGrowth & Inflation · 4 min read
India Clears Fairfax's Takeover of IDBI Bank in INR 529 Billion Stake Sale
PetroChina Profit Rises 21.6%, Sinopec's Jumps 57% Even as China Fuel Sales Fall
Pop Mart Revenue Falls Up to 50% in Third Quarter as Labubu Sales Weaken
Bain and LY Top EQT Again in Kakaku.com Fight as Tender Deadline Nears
Brazil
Brazilian Stocks Plunge 13.7% and the Real Slides After Lula Wins Runoff
Investors had bet on a Bolsonaro victory after the first round. Lula's narrow comeback reversed that trade and put Brazil's debt back in focus.
EU and China Reach Hybrid Car Understanding, Pledge Faster Rare Earth Licenses
Two days of talks in Beijing pulled both sides back from a trade war, but EV duties stay in place and the hybrid terms remain unpublished.
QatarEnergy Signs 20-Year Deal for Up to 3 Million Tons a Year of Woodside's US LNG
The world's top LNG exporter has now lined up 7 million tons a year of U.S. gas as force majeure on its own cargoes runs to year-end.
Amazon Keeps $220 Billion Spending Plan as AWS Grows 39%, a Boon for Asia's Suppliers
Memory chip costs, Taiwanese-built server racks and a $578 billion cloud backlog tie Amazon's AI build-out to factories across Asia.
China Property
China's Top 100 Developers Sell 2.54 Trillion Yuan Through October as Poly Clings to Lead
October sales rose from September as a mortgage subsidy took effect, but only six developers have topped 100 billion yuan this year, one fewer than a year earlier.
- Link REIT Sells Mong Kok's 700 Nathan Road for HK$2.3 Billion, 61% Below 2016 PriceCommercial · 4 min read
- Hong Kong Home Prices Rise 0.19% in September as Rents Hit Another Record HighResidential · 3 min read
Investing
Koreans Pour Record 5.18 Trillion Won Into Mirae's S&P 500 ETF as Kospi Swings
The U.S. index fund became the first Korean-listed ETF to pull in 5 trillion won of retail money in a year, as the Kospi jumped 6% and then fell 3.5%.
- Singapore Savings Bond Return Rises to 2.45% as T-Bill Yields Climb Toward 2%Saving & Banking · 3 min read
- Singapore Keeps Asia's Only A Grade in Global Pension Index as Indonesia SlipsRetirement · 3 min read
Aviation
Air China Third-Quarter Profit Sinks 93% as Jet Fuel Costs Erase Summer Travel Gains
The flag carrier flew 7.3% more passengers in the peak quarter but kept just 271 million yuan of profit, with China Eastern and China Southern reporting next.
Hong Kong's Bar Leone Keeps World's Best Bar Title as Asia Takes 13 Spots
Hong Kong tied New York and Paris with four bars in the top 50, while venues in Bangkok and Seoul climbed into the top 10.
Swiss Watch Exports Rise 11.7% in September as Hong Kong Shipments Edge Up
A rebound in US shipments drove a fourth straight monthly gain, while reports differed on whether demand from mainland China rose or fell.
JYP Entertainment Shares Jump 6.8% on Unverified Takeover Claim as Regulator Warns
Two little-known groups say they plan to bid for up to half of the Stray Kids label. JYP says no valid proposal arrived, and Korea's watchdog is monitoring trading.
The Asia Open
Our 6 a.m. HKT briefing on what moved overnight and what to watch when Asian markets open. Weekdays, free.